Having spent 12 years at Goldman Sashs, found that the bank is immoral

In one of the most influential American publications, The New York Times, was posted an open letter, which is intended either to create a scandal, or mark the beginning of a new financial development around the world - at least those were the first reviews of experts on the text, sponsored by Greg Smith, head of the famous bank Goldman Sachs Department of derivatives trading in Europe.

The letter was written immediately after Greg Smith decided to resign from the bank that he now believes, is controlled by moral bankruptcy. In particular, according to Greg Smith, senior managers of the bank, including President-bank financial institution Harry Cohn and Lloyd Blankfein, CEO, during a discussion of various customers inside the bank called “dolls” and cretins. Management of the bank, according to Greg Smith is now deliberately and coldly neglected the interests of customers, in fact, continually misleading them.

The main desire leadership Goldman Sachs, says Smith, there was nothing to prevent the client, but to get from him as much as possible.

In fact, Greg Smith has accused his own bank fraud, saying that customers are often imposed on the purchase of securities, which then can be realized in the market, even at face value. The most controversial, however, is the fact that such phenomena are not prevented from Smith to work out 12 years at Goldman Sachs.

20 March 2012

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